Petrofac has put on 14p to £10.62 after a positive note on the oil and gas services company from Barclays. The bank has raised its recommendation from equal weight to overweight, with a £15 price target. It said:

Petrofac had a mid-life crisis. Following the 2011-12 slowdown in its core market and the retirement of key members of its management team, the company, in our view, tried to re-assure itself by a venture into Integrated Energy Services and Offshore Construction. The first of these has had issues and hence the company has gone back to basics – investing where there are synergies with the rest of the business. The second is ongoing, but too early to worry about, in our opinion.
In the mean time, Petrofac's core market has come back. The worries it and investors felt, should have been eradicated with a new record backlog and an assertion from the company that the margin degradation embedded within in it is small. Yes, if investors have nagging doubts, then the current working capital position could be off-putting; indeed the Great Stella development needs to come on-stream as promised. But if these come through, as the company maintains, then we see little reason the backlog will not ensure strong growth. Indeed, our estimates show 27% net income growth in 2015 and 15% the year after. With this earnings growth underpinned, we expect investors to come back to the company as the margin is proved and working capital reverses. Furthermore... the stock is the least expensive of its Engineering & Construction peers we cover, having underperformed in a falling sector by 14% since March.

And SSE has climbed 10p to £15.33 as UBS issued a buy note in the wake of last week's Scottish referendum. The bank said:

The No vote in (the) Scottish independence referendum has removed a significant risk that has been overhanging SSE's shares. With around 35% of SSE's earnings attributable to Scottish based assets and customers on UBS estimates, investor fears of Scottish independence (combined with the May 2015 UK election and the Competition and Markets Authority's sector review) have depressed SSE's shares to where it is trading at its largest PE discount and largest dividend yield premium to the utilities sector in more than 8 years. Now absent Scotland risk, we see no reason SSE's shares should not start to rerate towards our 1,815p base case fair value, around 20% above current levels.

Lower down the market, the mobile commerce group MoPowered has dropped 65% from 20.25p to 7p after announcing a placing to raise £3.5m at 5p a share. The company joined Aim in December at 100p a share.

It said the money would be used to strengthen its balance sheet and invest in sales and marketing activities.